In-Depth Analysis
Zimbabwe
External factors have continued to place added pressure on an already strained economy. Zimbabwe once again faces a period of extreme macroeconomic instability as political fragilities have seen the economy come undone again. Inflation is running rampant, the local currency struggles to gain traction, and nearly the entire country is out of formal employment.
Zimbabwe faces a set of complex economic and political issues, and we expect the economy to contract by more than 20% this year. Currency imbalances hamper economic activity while inflation continues to soar. The shortage of basic goods, including food, is considered an immediate concern. Zimbabwe’s return to the familiar continues with its long-suffering populace facing economic collapse, political repression, and little hope of intervention from the international community. A fragmented opposition has offered minimal resistance; however, international condemnation has grown as the persecution of prominent individuals has drawn attention to the brutality of the regime. (Source: Zimbabwe Quarterly Update, published August 2020)
Macroeconomic Data
(2019)
|
Fiscal Balance (as a % of GDP) |
-3.3 |
|
Consumer Price Index (% change y-o-y, avg) |
255.4 |
|
Current Account Balance (as a % of GDP) |
0.2 |
|
Real GDP (annual % change) |
-8.3 |
|
GDP per Capita, US$ |
1,186.3 |
|
Import Cover (months) |
0.3 |
|
Population, million |
14.7 |
| Total External Debt (as a % of GDP) |
69.5 |